Introduction
The journey of X.com is a tale of innovation, mergers, rebranding, and visionary leadership. Originating as an online payment company, X.com has evolved into a prominent social media platform under the leadership of Elon Musk. This blog delves into its history, budget, mergers, creation, and the founders’ journey.
Creation and Founders
X.com was founded in March 1999, by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho. Initially, it operated as a financial services website with banking services provided by First Western National Bank^1.
Budget and Early Days
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Elon Musk invested $12 million in X.com, primarily funding it alongside Greg Kouri. The company offered unique features like no fees or overdraft penalties, and cash incentives for new member sign-ups1. Within a few months of its launch, X.com garnered over 200,000 signups.
Mergers and Rebranding
In March 2000, X.com merged with Confinity, a software company specializing in mobile payments, leading to the creation of PayPal. This merger combined their strengths, and by 2001, the consolidated entity rebranded itself as PayPal, expanding the service globally.
The final chapter of its evolution began in 2022, when Elon Musk acquired Twitter and started rebranding it to align with his vision for X.com, aiming to build it into an “everything app”
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